Lower tax rate gives you about $200 extra per month.

Nancy Pelosi and Chuck U. Schumer say $1,000 or $2,500 is crumbs. I guess they forgot about the $200.

I guess $5,000 a year is chump change to the rich democrats in Washington.

Pelosi is worth $30mil

So $500 to her is crumb?

While many companies are using President Trump's tax cuts to give workers bonuses or raise wages, the maker of Kleenex and Huggies is doing the opposite.

Kimberly-Clark announced on Tuesday that it would cut between 5,000 and 5,500 jobs, or roughly 12 or 13% of the company's employees.

The personal care product company also announced plans to shut down 10 manufacturing facilities. The restructuring program is estimated to save Kimberly-Clark $500 to $550 million by the end of 2021.

The company said it plans to use savings from the Republican tax plan to fund the cuts and other restructuring efforts, The New York Times reported. Tax savings would additionally be used for capital investments and to allocate capital to shareholders, CFO Maria Henry said in a call with analysts.

A number of companies have announced pay hikes and bonuses in response to the new tax plan. Walmart said that it would give employees bonuses due to the new tax plan — on the same day that it laid off thousands after closing more than 60 Sam's Club locations.

Nice try. The company responded that these restructuring efforts were happening regardless of the new tax laws.

Posted by cccp1014 on 1/26/2018 10:27:00 PM (view original):
Nice try. The company responded that these restructuring efforts were happening regardless of the new tax laws.

The company said it plans to use savings from the Republican tax plan to fund the cuts and other restructuring efforts, The New York Times reported. Tax savings would additionally be used for capital investments and to allocate capital to shareholders, CFO Maria Henry said in a call with analysts.



Where's their tax savings going to? That's the point of this thread right? Certainly not to workers and apparently to stock buyback and shareholders like I expect most of the savings will.

Chief Financial Officer Maria Henry said the company’s gains from the tax overhaul would help offset the cost of the restructuring plan.

The plan was already is place. Along with many of its peers in the retail industry Kimberly-Clark has been buffeted for years by falling commodity prices. The company’s revenue rose by 1 percent in the fourth quarter of 2017, compared with the same period a year earlier, but the numbers are down significantly from 2014. Executives cited declining fertility rates in the United States and South Korea as factors that have contributed to a decline in diaper sales, long considered one of Kimberly-Clark’s bedrock lines of business. Competition is also heating up. Amazon.com, for instance, launched its own private label brand of diapers late last year. (Amazon chief executive Jeffrey P. Bezos owns The Washington Post.)

You're a business guy. The Company had to restructure. The Trump plan makes it a bit less painful but given the market dynamics this would have happened anyway. Lower birth rates are due to people not being able to afford as many kids (we are a perfect example) my wife wanted 4 but at least 3 and we settled for 2 due to cost. Many of my friends, co workers and such are in the same boat.

More on KC:

Executives have tried to fill the gap through a cost-cutting program it calls FORCE, or “Focused On Reducing Costs Everywhere,” which is meant to make its factories and distribution lines more efficient. Executives told analysts the company has saved about $450 million in the past year as part of that program, as part of a planned $1.5 billion cost-reduction over the next four years.

The New York Times has fallen into the trash can of FAKE NEWS.

I got a story to tell you.

It's all about PUNCH and PINCH and A.M. Rosenthal.

And a former editor-in-Chief.

It's a long story...but I have one quote for you to consider: This is Pinch pointing to the National, Foreign, Business AND Arts and Leisure desks and saying, "Someday there are going to be no white guys running those desks anymore. It's going to be women and African Americans"

WELL...he runs it now and he got what he wanted. It's certainly not meritocracy.

Since then jobs and readership have been more than halved.

The New York Times has fallen into the trash can of FAKE NEWS.

Some of these offers to workers aren't bigly amounts, but they add up. Workers will spend much of that money locally, and those merchants will do the same. This is money going into the economy. Many will feel its impact. And this is before the tax cuts take affect. Democrats lauded $40 additional take home pay under Obama's tax cuts, Bush's cuts that were extended under Obama. But to say these offers are crumbs is not a fair assessment. More like sour grapes...remember that these companies are not required to dole out anything. It would be within their rights to do buybacks, line their pockets all they want. To share with their workers is a bonus many will happily accept.

For a modest earner, a bonus of $1,000 can be the difference of paying or not paying the rent. A set of tires on the family car, or being able to put a bit in savings. A large number of Americans can't scrape up $400 in an emergency. This helps...

Whenever Taint gets proven to be incorrect he runs.

Incorrect about what? There's really nothing to do or say until the proof is in the pudding. If I'm wrong, I'm wrong and can readily admit to it.

Then admit you were wrong about KC. That restructure was happening with or without the tax law.

Where did I ever say it wasn't? How about a raise to the workers who are still there...or at the least a bonus?

Nope, going to stock buybacks and upping dividends to shareholders. The point of the thread is that the tax cuts are going to magically make the economy that much better. They obviously weren't enough to save a lot of people their jobs. The rich get richer though.


Let's see you admit I was right in that the lion's share of the benefits are going to shareholders.

She said the tax savings would also be used to make capital investments and to “allocate significant capital to shareholders.”

In addition to announcing job cuts on Tuesday, Kimberly-Clark said it would raise its quarterly dividend by 3.1 percent this year. Last year, the company spent about $900 million repurchasing its own shares.?

KC needs to appease shareholders and keep the stock price high aka the Executive Management team is trying to keep the stock price high. It actually benefits all the employees who have a 401k with KC and invest in the stock.

The restructuring and layoffs would have happened regardless but at least the shareholders and most employees And ex employees likely are will see more value because of the higher dividends. Not only the rich are shareholders.